i had a question. we had someone walk into our branch and apply for a loan who has recently lost their job and have no reportable income at this time, but they are seeking the denial letter for unemployment reasons.

am i obligated to pull credit when i know that i am just gonig to be providing a denial letter? i mean all i have is a half-completed application, and no proof of income.

it just seems like we could deny for incomplete application rather than actually pulling credit, adversely affecting the borrower, and eating that cost?

thank you for your thoughts

You have absolutely no requirement to pull a credit report if you are denying the request for unemployment or unable to verify income.